Youth Entrepreneurial Management; A Sustainable Step to Eradicate Youth Unemployment and Extreme Poverty in Rural Communities of Sub-Saharan Africa: A Case Study by the Trade Union Congress of Ghana
According to the International Labour Organization (ILO), young people in rural communities are three times more likely to be unemployed. It posits that about 70% of the global labour force within the rural communities has no access to formal sector employment. Self-Employment/Entrepreneurship which is an alternative to traditional formal employment pathways is least recognized in most rural settings. Indigenous Entrepreneurship which is a home-grown job creation and self-employment avenue is considered the most sustainable and surest guarantee for improving the bizarre youth unemployment and endemic rural poverty situation. This entails using appropriate local skills and technology to solving the very basic social challenges. Countries like Rwanda, Ghana, Mauritius and Botswana are living testimonies to this. The United Nations Conference on Trade & Development 2018 (UNCTAD) report on rural unemployment sees indigenous entrepreneurship as a panacea to the canker of rural unemployment and endemic poverty. To sustain this approach calls for Targeted Policy Direction & Advocacy, Trade Growth & Business Development, Mentorship and Sustainable Funding Source for Indigenous Entrepreneurship. This approach must focus on Youth Entrepreneurship, Women Entrepreneurship and promoting Intrapreneurship for Persons Living with Disabilities. These are the main actors affected by the ropes of unemployment and rural poverty & joblessness. Whilst Governments sign onto International Trade Pacts like African Free Trade Continental Agreement (AFCTA), conscious efforts must be made to build and scale up the capacities of Indigenous Entrepreneurs in key sectors like Agribusiness, Climate Change Management, Education, Health, Security and Transportation. Concessions in terms of quota purchase can be allocated to inspire budding youth and women entrepreneurs in the above key sectors. The greater focus should go into agribusiness since any nations that produces what it eats has the capacity to diversify into any other sector. This research work is geared towards enhancing rural employment and poverty reduction through indigenous entrepreneurship. The focus is on Youth, Women and Disability-led Entrepreneurship. The Research intends to evaluate how indigenous entrepreneurship can economically improve decentralized political regimes through revenue mobilization, royalty/tax enhancement, and job & wealth creation.
Keywords - Bizarre Youth Unemployment; Endemic Rural Poverty; Traditional Formal Employment Pathways; Indigenous Entrepreneurship; Targeted Policy Direction; Sustainable Funding.